Customers can now convert fiat currency to cryptocurrency and deposit the new currency in their Polygon or Solana wallet. Coinbase is adding MATIC and SOL to their listings, which are the native currencies of Polygon and Solana.
MATIC, the native token to Polygon, is today’s top performer according to the. MATIC is trading at 69 cents, up 20% over the last day, at its highest level in a month.Forbes Digital Assets
The token also climbed above its 50-day exponential moving average. Polygon’s joining Disney’s accelerator program to develop augmented reality, non-fungible token (NFT), and artificial intelligence experiences might have kindled the interest in MATIC. Is there a chance of the token revisiting $1?
Polygon (MATIC) price has increased by over 30% in the past few days. Within a period of 24 hours, the token experienced an increase in price by 26%. Currently, Matic is trading at $0.596316 per coin, according to CoinMarketCap’s data.
Previously, Polygon (MATIC)‘s support of carbon neutrality apparently impressed environment-conscious users and led to the demand for MATIC, leading the price up by 30%. Resistance is expected at around the $0.73 level.
In an official blog post, Polygon explains how they were able to retire $400,000 of carbon credits that offset the entirety of CO2 debt accumulated by the network since inception.
Polygon is always on the forefront of green business. They lead their industry by converting to carbon neutrality and moving towards becoming a net positive for the environment.Sandeep Nailwal, Polygon Co-founder
Important news around the Polygon Network at the start of this year is the launch of a photography NFT platform that will be deployed through the Polygon blockchain. The platform is the product of the Associated Press and aims to enable collectors to purchase and trade tokenized photographs from global news. AP’s goal is to cover subjects in climate change, space, and war through photojournalism.
Today’s Polygon price is $0.687003 with a 24-hour trading volume of $1,445,742,501. Polygon is up 9.18% in the last 24 hours. The current CoinMarketCap ranking is #16, with a live market cap of $5,500,696,589. It has a circulating supply of 8,006,803,853 MATIC coins and a max. supply of 10,000,000,000 MATIC coins.
The outlook for the coin looks more positive after the news that Polygon had raised a $450m war chest through a private sale of its native MATIC token to advance the mass adoption and its own position in Web3.
What do you think will be the top project for #Polygon in 2022?
What’s new with Polygon (MATIC)?
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 3000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
Mina Protocol and Polygon are working towards implementing support for Mina on Polygon PoS. This bridge will enable developers building applications on Polygon to leverage privacy and verifiability via Mina’s zero knowledge-SNARK-based protocol.
Polygon is an Ethereum-based project that hopes to solve fundamental issues the Ethereum blockchain faces, such as interoperability and scalability. It is the first project on the Ethereum blockchain to launch an adequately structured tool that addresses Ethereum scaling problem. Consequently, many have termed Polygon as Ethereum scaling solution.
Ethereum is home to several DeFi projects like the Polygon, formerly known as the Matic network. Since the Matic network has brought numerous functionalities to the entire Ethereum blockchain, several developers have taken an interest in the project, which has, in turn, led to steady growth of Matic price.
Major cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc., witnessed a slump on the 1st week of June, and yet, the value of Polygon(MATIC) rose nearly 35% in the same period. Investors saw Polygon (MATIC) as the next big thing, and in a short period, it surged past other cryptos to rank among the top 15 biggest cryptos globally.
In Feb 2021, Polygon rebranded itself and upgraded it by bringing in promising metaverse projects and integrating Matic Plasma Chain. This development provided a layer one blockchain network with integrated scaling solutions for NFT, DeFi, etc.
Polygon has become a massive hit in India and led cryptocurrency exchanges like CoinSwitch Kuber to list the currency on their platforms. Polygon Matic price prediction is based on analyzing the previous price and forecasting the future. Polygon price predictions on Cryptopolitan are based on analyzing the entire cryptocurrency market, price action, and trends to determine whether Polygon cryptocurrency is a good investment.
Polygon (Matic) Overview
Polygon (Matic) was formerly known as the Matic network, and it was developed on the Ethereum blockchain to solve scalability issues faced by Ethereum. The Matic network employs its unique Polygon SDK to create interactive decentralized applications (dApps) on the DeFi platform. It combines both PoS and plasma framework in its core and runs on Ethereum layer two.
Polygon successfully converts the limited Ethereum blockchain into an open blockchain network usable by many. In essence, it makes Ethereum steady as the internet of blockchains.
In turn, Polygon (Matic) project benefits immensely from the already established Ethereum blockchain in several ways. Firstly, every blockchain project needs a secure security infrastructure, the Matic network benefits from Ethereum’s array of qualities such as an active and vibrant community, established security systems, and transparency.
Within the Polygon network, transactions are settled using the Matic coin. Matic price has risen over the years, sparking interest from cryptocurrency enthusiasts. Polygon technology has improved efficiency within the Ethereum blockchain. Today, Polygon boasts of handling up to 65,000 transactions per second on its single sidechain. Similarly, it has averaged an impressive block confirmation time of two seconds per transaction.
Polygon Price History
According to Polygon’s plan, all Matic coins will have been released by December 2022, which is good news for long-term investors because it guarantees significant future gains.
Since its inception in 2017, Matic tokens have had an incredible run that has withstood the test of unforgiving crypto market turmoil that usually ends up wiping out invalid tokens.
Despite the prevailing bearish trend currently experienced in the crypto market, experts are convinced by Matic’s crypto price prognosis and price forecast data that indicates an overall bullish trend for the long-term investment horizon.
Based on Coingecko’s data, Polygon had recorded impressive gains since its launch back in 2017. The crypto token has recorded incredible gains of up to 44157.6%, and the rally is expected to continue in the following years.
Matic recorded its all-time low price of $0.003143 in May 2019 during the famous bearish run. However, since then, the coin had continued to make significant gains until May 2021, when it recorded a new all-time high price of $2.62. It seems then that May is the month of Polygon, after all.
Cryptocurrencies are a fickle thing – it’s impossible to predict which will be popular in the future and which will lose favor. However, we think that Matic has a lot of potentials and will hold its value well.
Polygon is having difficulty gaining traction with other cryptocurrencies. In the previous seven days, the MATIC has dropped to around -3.03 percent. The currency has been demonstrating risky framing segments over the previous several days; the coin may have excellent fundamentals, but we do not believe it will be a successful asset in the short run.
MATIC price dropped by -61.536 percent in the previous month, subtracting a stunning average of $1.05 from its present value. This abrupt drop indicates that the currency is now in a slump, indicating that it might be an excellent purchase opportunity for a quick investment.
The 90-day price change is around -69.31 percent, with the price fluctuating between a minimum average price of $1.83 and a maximum average price of $2.23 in the previous 90 days.
Polygon is down by -61.26 percent in the last four months, with the maximum average price of the coin being around $1.77 and the minimum average price being around $1.69, but today the price exhibits bullishness.
Pros and cons of investing in Polygon (Matic)
Polygon, formerly Matic network, has been considered a stable investment by crypto enthusiasts. Anyone interested in Ethereum and its bundle of projects likely has an affinity for Matic.
It is a well-structured organization with clear goals of extending the scalability of the Ethereum blockchain and making cryptocurrency more accessible to the public. If the project continues to push forward strides, its success is inevitable, and consequently, Matic holders will benefit significantly.
Investing is a full-time activity that requires individuals to analyze potential risks and returns before committing. However, within the crypto world, numerous uncertainties shape the prices of crypto coins. Therefore, even for a seasoned professional, it is challenging to make precise predictions on the price of a coin based on historical price actions alone.
However, for an individual to earn impressive returns on their investments, they must take risks. Here, we’ll discuss some of the benefits of investing in the Polygon ecosystem.
Pros of investing in Matic
Since Matic is a scaling solution on the Ethereum blockchain, it is difficult to foresee its downfall. Therefore, most forecasts are convinced that Polygon will be in existence for years to come. So what are some of the pros of investing in this token?
- It provides new scaling solutions to the Ethereum ecosystem, ensuring a bright future and allowing investors to make long-term investments.
- Since 67% of the tokens are already in circulation, and maximum supply is expected to be realized by December 2022, the coin offers immense growth potential in 2022 and beyond, allowing investors to reap more profits.
- Matic allows for the interconnection of blockchain networks, a scaling solution that assures investors of Matic’s future performance.
- Polygon is supported by a strong community of developers that ensures the project performs well and consequently maintains and increases Matic’s price level.
Cons of investing in Matic
It is indeed public knowledge that investments always come with a degree of risks. Investing in Matic may result in losses if careful considerations of the involved risks aren’t well conducted. Below are some possible shortcomings of investment in Matic.
- Recently, the Polygon network was hacked, and the perpetrators made away with millions worth of Matic tokens. The hacking was a huge red flag for investors since it indicates that the network isn’t as secure as it should be.
- Price volatility. Every cryptocurrency experiences volatility; however, when dealing, sometimes crypto coins experience extreme price drops that may hurt an individual’s portfolio. Since Matic already competes with Avalance, Polkadot, and Cosmos, it is unclear who will win the race. Therefore, for a long time horizon, investors should keep tabs and know when to exit.
Where & how to buy Polygon (MATIC)?
If you would like to know where to buy Polygon, the top cryptocurrency exchanges for trading in Polygon stock are currently Binance, OKX, Hotcoin Global, and Bitget.
The process of buying MATIC is fairly simple:
- Step 1: Decide where to buy Polygon (MATIC).
- Step 2: Think about how to store your Polygon (MATIC).
- Step 3: Make your purchase.
- Step 4: Manage your investment.
Polygon Technical Analysis
Polygon price movement over the last month indicates the cryptocurrency has been stumbling below the $0.08 level since early May. There is a bullish trend at the moment of writing, gaining significantly in value in the last 24 hours. The immediate support lies at $0.08 and resistance is found at $0.10. A move outside this range would signal further direction.
The moving average lines also affirm the sideways trend as the 50-day SMA is hovering just above the 200-day SMA. Moreover, the 100-day SMA has crossed over the 200-day SMA from below, which is a bullish signal.
The Relative Strength Index (RSI) is an important indicator that measures the speed and change of price movements. The RSI for Polygon over the last month is currently at 42.8, indicating the cryptocurrency is in neutral territory. However, the RSI has been climbing steadily over the last few days, which could signify that Polygon is gaining momentum.
The MACD (Moving Average Convergence Divergence) indicator is another popular tool used by traders to gauge the momentum of a security. The MACD for Polygon is currently at 0.0013, which indicates the cryptocurrency is in neutral territory. However, the MACD line (the blue line) is above the signal line (the red line), which could be a bullish sign.
Overall, the technical indicators are mixed on Polygon at the moment. However, the recent bullish momentum could be a sign that the cryptocurrency is beginning to gain traction. Polygon is currently trading at $0.6967, up 11.90 percent in the last 24 hours.
Polygon Price Predictions by Authority Sites
Wallet Investor gives a bearish Polygon price prediction, expecting the prices to decline in the future. They forecast that by the end of 2022, one Polygon coin might be worth $0.05. Their long-term price predictions expect Polygon will not recover and might lose even more of its value in 2025 and 2026, with a price prediction of $0.01.
Polygon price forecasts by this site suggest that the coin prices might consolidate around $0.55 as the year 2022 comes to an end. Moreover, a price forecast of $0.60 by 2023 is considerably bearish as compared to MATIC’s current price. The site’s MATIC coin price prediction for 2025 of $0.75, climbing to $1.85 in 2030.
This site gives one of the most optimistic Polygon coin price predictions for 2022, with a forecast of $0.86 by the end of the year. Moreover, they predict MATIC’s average price in the next five years is likely to be $4.44.The site projects by 2031, the cryptocurrency is likely to surge to a new all-time high of $22.82 by the end of the year.
Polygon Price Prediction 2022
By the end of the year 2022, Polygon prices are expected to attain an average trading price of $0.77 percent in the year. A maximum value of $0.86 and a minimum of $0.75 are the two possible extreme price points that the cryptocurrency might attain.
The current market trend is predicted to continue in the next few days before a sudden price surge is expected around mid-June. After that, a gradual decline is again noted till the end of July, when the prices might attain a short-term bottom around $0.65. Thereafter, a slow and steady rise is expected, which would take the prices to $0.78 by the end of 2022.
Polygon Price Prediction 2023
In the year 2023, it is expected that Polygon would have an average trading value of around $1.09. The maximum and minimum values that might be attained this year are $1.05 and $1.28.
Polygon Price Prediction 2024
According to our site, the average trading price for 2024 is expected to be $1.60. However, the maximum and minimum prices that might be seen are $1.84 and $1.54, respectively.
Polygon Price Prediction 2025
In 2025, it is anticipated that the cost of one Polygon would reach a minimum of $2.15. During the period 2025, the price of MATIC has the potential to reach a high of $2.65 while maintaining an average price of $2.23.
Polygon Price Prediction 2026
The year 2026 is expected to be the year where Polygon would have an average price of $3.15. The coin might touch a high of $3.68 and a low of $3.06.
Polygon Price Prediction 2027
Our site predicted the average price for 2027 to be around $4.44. The maximum and minimum prices that might be seen this year are $5.30 and $4.28, respectively.
Polygon Price Prediction 2028
In the year 2028, the cost of one Polygon is expected to reach a minimum of $6.29. During the period 2028, the price of MATIC has the potential to reach a high of $7.65 while maintaining an average price of $6.51.
Polygon Price Prediction 2029
In the year 2029, it is anticipated that the price of Polygon will fall to a level no lower than $8.69. Throughout the year 2029, the price of Polygon might hit an all-time high of $10.79 while maintaining an average market price of $9.02.
Polygon Price Prediction 2030
2030 is expected to be the year Polygon would have an average price of $13.36 by our site. The maximum value expected is $15.32, while a minimum value of $13.00 is predicted by the end of the year.
Polygon Price Prediction 2031
In the year 2031, the price of Polygon is anticipated to reach a new all-time high and a maximum price of $22.82.A minimum trading value of $18.93 and an average price of $19.60 is also possible by the end of2031. By this time, crypto adoptions might bring a new level of awareness and usage to light.
According to historical data and the current Polygon price analysis, a bright future is expected for the cryptocurrency. Polygon’s price might increase in the short and long term. A lot of potential exists for the currency to grow even more in the future.
Polygon, formerly known as Matic Network, is a layer 2 scalability solution that utilizes sidechains for off-chain computation. Polygon provides scalability without compromising on decentralization or security. It is one of the most popular solutions for Ethereum scaling and has seen rapid adoption by DeFi projects. Polygon is also popular for its low transaction fees and fast transaction speeds.
Overall, scaling solutions like Polygon are expected to gain momentum as network congestion on the Ethereum blockchain remains an issue. Polygon’s multi-layer technology allows it to authenticate transactions in a matter of seconds while still uploading them to the Ethereum blockchain, combining scalability and security. Polygon’s powerful Dapp architecture makes it simple to build new apps on-chain and port current Ethereum projects. However, MATIC is projected to continue dipping by a few cents before beginning another price increase in the near future. Before making any investment decisions, do your own research.
A study of the most recent price movement reveals that the coin is positioned for tremendous growth and might be an attractive investment opportunity for both active and strategic investors. In addition, the need for Web3 infrastructure and the use of cryptocurrencies in the regular industry should both help to benefit the Matic coin price forecast.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and consultation with a qualified professional before making any investment decisions.